Debt crisis

Signs of strength in the labour market and manufacturing sector, as well as higher quarterly profit from FedEx, pushed United States stocks slightly higher on Thursday, but the mood was fragile as investors kept their eyes on Europes festering debt crisis, Reuters reported.The data signalled a continuation of the now familiar tug of war between optimism about the US economy and fears that Europes debt crisis could spark a global recession.Reflecting that struggle, indexes were off their highs of the morning and the Nasdaq bobbed around the breakeven mark, suggesting investors were hesitating before buying into the better-than-expected USdata.The world economic outlook is quite gloomy and will require action by all countries to head off an escalating crisis that carries risks of a global depression, Christine Lagarde, the head of the International Monetary Fund, said on Thursday.
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